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Kyrsten Sinema

Kyrsten Sinema (D)

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Notable statements

Sen. Kyrsten Sinema has 1 statement(s) about crypto.

Senator Sinema is a co-founder of the Financial Innovation Caucus: "The caucus will serve as a space in the Senate to discuss domestic and global financial technology issues, and to launch legislation to empower innovators, protect consumers and guide regulators, while driving U.S. financial leadership on the international stage. The caucus will focus on a number of issues critical to the future of banking and U.S. competitiveness on the global stage, including: - Responsible financial innovation - Distributed ledger technology (blockchain) - Digital assets - Artificial intelligence and machine learning - Data management - Consumer protection - Combating Money laundering - Faster payments - Central bank digital currencies - Stablecoins - Promoting financial inclusion and opportunity for all"

Financial Innovation Caucus: United States Senate

Crypto bill sponsorship

Sen. Kyrsten Sinema has put out 2 crypto bills.

Virtual Currency Tax Fairness Act

S. 4608
Co-sponsored
Bill pending

This bill excludes from gross income, for income tax purposes, a limited amount of gain from the sale or exchange of virtual currency, unless such sale or exchange is for cash or cash equivalents, property used in the active conduct of a trade or business, or property held for the production of income. The exclusion does not apply if the total value of the sale or exchange exceeds $50, or the total gain exceeds $50 (both amounts adjusted annually for inflation).

The bill defines virtual currency as a digital representation of value that functions as a unit of account, a store of value, or a medium of exchange, and is not a representation of the U.S. dollar or any foreign currency.

To Revise the Definition of a Broker for Purposes of Certain Reporting Requirements with Respect to Digital Asset Transfers under the Internal Revenue Code of 1986, and for Other Purposes

S. 4751
Co-sponsored
Bill pending

A summary is in progress.

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